Beijing Enterprises Environment Group Stock Forecast

Beijing Enterprises Environment Group stock price up 4.55% on Friday
(Updated on May 03, 2024)

0154.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beijing Enterprises Environment Group stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.376. On a fall, the stock will find some support from the short-term average at HK$0.336. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Beijing Enterprises Environment Group stock

Beijing Enterprises Environment Group finds support from accumulated volume at HK$0.340 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0150 between high and low, or 4.55%. For the last week the stock has had daily average volatility of 4.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0154.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Beijing Enterprises Environment Group Limited to open at HK$0.340, and during the day (based on 14 day Average True Range), to move between HK$0.330 and HK$0.360, which gives a possible trading interval of +/-HK$0.0146 (+/-4.23%) up or down from last closing price. If Beijing Enterprises Environment Group Limited takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.340 (1.45%) than the resistance at HK$0.390 (13.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Beijing Enterprises Environment Group Limited stock A Buy?

Beijing Enterprises Environment Group holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.687 Sell Candidate Unchanged

Predicted Opening Price for Beijing Enterprises Environment Group Limited of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.